Boost Sales and Revenue & Reduce Churn: The Foundation of Sustainable Growth
Growth is often equated with driving new sales, but sustainable growth is about balance: acquiring new customers while retaining and expanding relationships with your existing ones. Too many businesses focus exclusively on acquisition, losing sight of churn—the silent killer of profitability. The Cost of Churn vs. Acquisition Research from the Harvard Business Review highlights that acquiring a new customer can cost 5 to 25 times more than retaining an existing one. Additionally, Bain & Company found that increasing customer retention rates by just 5% can boost profits by as much as 95%. These statistics underline the importance of reducing churn…